Ballentine Partners LLC Boosts Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Ballentine Partners LLC lifted its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 19.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,305 shares of the company's stock after purchasing an additional 3,427 shares during the quarter. Ballentine Partners LLC's holdings in Palantir Technologies were worth $1,798,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Geode Capital Management LLC lifted its position in shares of Palantir Technologies by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock worth $3,929,401,000 after buying an additional 4,127,306 shares during the last quarter. Northern Trust Corp raised its position in Palantir Technologies by 20.4% in the fourth quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock valued at $1,473,913,000 after purchasing an additional 3,299,779 shares during the last quarter. Norges Bank bought a new position in Palantir Technologies in the fourth quarter valued at about $1,360,191,000. FMR LLC raised its position in Palantir Technologies by 22.6% in the fourth quarter. FMR LLC now owns 15,296,371 shares of the company's stock valued at $1,156,864,000 after purchasing an additional 2,818,090 shares during the last quarter. Finally, Invesco Ltd. raised its position in Palantir Technologies by 31.2% in the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock valued at $1,115,409,000 after purchasing an additional 3,509,311 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Wedbush reiterated an "outperform" rating on shares of Palantir Technologies in a research report on Thursday. DA Davidson increased their target price on Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft reiterated a "sell" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Mizuho increased their target price on Palantir Technologies from $94.00 to $116.00 and gave the company an "underperform" rating in a research report on Wednesday, June 11th. Finally, Daiwa Capital Markets assumed coverage on Palantir Technologies in a research report on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 target price for the company. Five analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $89.32.

Insider Buying and Selling at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $139.61, for a total transaction of $111,688.00. Following the sale, the director directly owned 62,887 shares in the company, valued at approximately $8,779,654.07. This trade represents a 1.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Eric H. Woersching sold 10,214 shares of Palantir Technologies stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $130.95, for a total value of $1,337,523.30. Following the sale, the director owned 2,348 shares in the company, valued at $307,470.60. This trade represents a 81.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,452,297 shares of company stock valued at $186,222,373 over the last ninety days. Insiders own 9.23% of the company's stock.

Palantir Technologies Trading Down 0.3%

NASDAQ PLTR traded down $0.40 during trading hours on Friday, hitting $142.10. 52,005,962 shares of the company's stock were exchanged, compared to its average volume of 83,326,505. The stock has a 50-day simple moving average of $130.81 and a 200 day simple moving average of $103.81. Palantir Technologies Inc. has a 1-year low of $21.23 and a 1-year high of $148.22. The firm has a market cap of $335.34 billion, a price-to-earnings ratio of 617.83, a PEG ratio of 12.13 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting the consensus estimate of $0.13. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The business had revenue of $883.86 million during the quarter, compared to analysts' expectations of $863.89 million. During the same quarter last year, the firm posted $0.08 earnings per share. The firm's revenue was up 39.4% on a year-over-year basis. On average, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

About Palantir Technologies

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.